NEW DELHI: Hero Honda Motors, the country's top two-wheeler maker, today declared a dividend of 4,000 per cent. (Watch)

The company's board of directors at a meeting held today considered and declared a Silver Jubilee Special Dividend of 4,000 per cent or Rs 80 per equity share of Rs 2 each, Hero Honda said in a filing to the Bombay Stock Exchange.

However, despite the bonanza, shares of the company declined 1.93 per cent to settle the day at Rs 1,966.70 on the BSE.

"The announcement of hefty special dividend of 4,000 per cent by Hero Honda could not lift the counter up," brokerage firm Bonanza Portfolio's Assistant Vice President -- Research Equity -- Avinash Gupta said.

During the trading hour, the scrip moved between a high of Rs 2,063.95 and a low of Rs 1,960 on the BSE.

The BSE's 30-share Sensex too ended in the negative and fell 121.18 points or 0.68 per cent to 17,590.17 points.

The company has fixed April 15 as the record date for the payment of Silver Jubilee Special dividend.